Tuesday, February 15, 2011

A nearly vacant lot at the corner of 11th and V may soon be ready for a makeover now that developer Habte Sequar of Loford LLC has purchased the land with plans for a new residential building. The as yet unnamed development is to provide 40 1-and 2-bedroom units, but as far as whether they'll be condos or apartments, Sequar said it's too early to say.

Sequar told DCMud he bought the property several months ago from Quality Investments, and that Loford is working on design in-house, with the intention of naming an architect further along in this process. Though Sequar says he hopes to wrap things up within 18 to 24 months, he's being optimistic. It's taken nearly ten months to submit the raze permit: The date written on it says April 2010, yet the Historic Preservation Office claims to have received it earlier this month.

Loford's past work includes The Josephine Condominium at 440 Rhode Island Ave., 20 newly built condos on the market since 2009 that are still selling. Loford also purchased 1638 14th Street, which DCMudreported is to become a seven-story, 30,000 s.f. condominium to be built atop a 6,000 s.f. parking lot at the corner of R and 14th. No word on progress for that development, which has been on hold since at least 2009. Public records show that 2101 11th Street traded in August of last year, when Pierce Investments sold it for $2.7m.

Washington DC real estate development news

5
comments:

ML
said...

That is a bit disappointing that he is the one developing that property. The quality of the work and also the overall design of both the Josephine and Renaissance at Logan were awful. Not sure what else's he's done, but I would bet that it is sub-par as well. I think the fact that it is taking so long to sell those units is a clear indication of these points. Hopefully this new project will be an improvement over the others.

Anonymous
said...

I hope he does something more bold than the Josephine. What I love about this area of town is the unique modern architecture (which I guess results from the fact that most of the historic buildings were burned during the 1960's?). It's really one of my favorite spots in town and I would love to live there if I didn't work way out in Virginia.

Erin
said...

I've seen the Renaissance, cheap construction. His buildings are all wood-framed, cheaply designed and built. Walking through I got the feeling it was hollow, put together quickly in inexpensively. Renaissance was on the market for years, in a location that should have sold much better. I hope he does a much better job here, maybe he shouldn't design in house.

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Ken is a real estate agent in Washington DC, Maryland, and Virginia, as well as founder and editor of DCMud. Ken specializes in marketing urban properties and helping identify and analyze property. You can reach him at 202-588-1408, or Ken @ DCRealestate.com

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